Thirteen prominent industrial clusters from around the globe have recently joined the World Economic Forum’s (WEF) Transitioning Industrial Clusters initiative.
This global coalition now encompasses 33 clusters across 16 countries and five continents, showcasing an unprecedented commitment among co-located companies and public institutions to tackle greenhouse gas emissions while fostering economic growth and job creation.
Initially launched at COP26 in 2021 in collaboration with Accenture and the Electric Power Research Institute (EPRI), the initiative represents a significant collective might, with the 33 signatories poised to reduce carbon dioxide-equivalent emissions by an impressive 832 million tons—equating to the annual emissions output of Saudi Arabia.
Furthermore, they contribute approximately $492 billion to global gross domestic product (GDP) and sustain 4.3 million jobs worldwide.
This month, a new report, co-produced by Accenture and EPRI, highlighted the transformative potential of industrial clusters—geographical hubs where interconnected industries collaborate to accelerate clean energy infrastructure.
Roberto Bocca, head of the Centre for Energy and Materials at the WEF, on Wednesday said that effective collaboration at both local and regional levels can significantly aid the deployment of new infrastructure, facilitating emissions reduction and stimulating economic growth.
“Connecting industrial clusters across geographies and industries will accelerate the energy transition and foster a more resilient and sustainable global economy,” he said.
Among the newly joined clusters are five from India, marking a pivotal moment for the fastest-growing major economy. Additional new members include clusters from Thailand’s Saraburi province—renowned for concrete production—alongside one more from Australia.
This influx underscores the initiative’s commitment to advancing efforts in the Asia-Pacific region.
Notably, European port-centric clusters such as Rotterdam, Gothenburg, and Solent have joined, along with South American newcomers like the Ports of Açu and the Cartagena Industrial Cluster, and Jubail Industrial City in the Middle East.
Stephanie Jamison, Accenture’s global resources industry practice lead, emphasises that industrial clusters view decarbonisation as a shared goal essential for driving both business growth and industry innovation.
“These industrial leaders are adopting digital technology to accelerate the deployment and optimisation of net-zero infrastructure,” she explained.
“They are harnessing the power of data and AI to provide intelligence for enterprise and ecosystem decision-making, predict emissions progress, and even facilitate new business models that would not have been possible previously.”
The insights from the Forum’s report, titled “Unleashing the Full Potential of Industrial Clusters: Infrastructure Solutions for Clean Energies,” outline critical strategies to catalyse clean energy activities along the wider energy value chain. Through 19 case studies from nine countries, the research elucidates three paramount solution areas:
- Develop a common vision: Implementing effective governance and fostering public-private partnerships that leverage a joint digital base. A key example is the Zero Carbon Humber project, which uses digital twins to plan decarbonisation pathways.
- Expedite the scaling of clean energy initiatives: Enhancing collaboration across the clean energy spectrum, which involves aggregating demand and finding financing mechanisms—such as the HyNet North West cluster, noted for its innovative carbon capture and storage business model.
- Strengthen collaboration across clusters and regions: Fostering international networks and partnerships, the maritime corridor linking Andalusian Green Hydrogen Valley to Northern Europe through Rotterdam epitomises this collaborative ethos.
The Transitioning Industrial Clusters initiative aims to bolster collaboration and shared visions among its stakeholders, promoting economic growth and employment while striving towards ambitious CO2e emissions reductions.
By convening leading public and private industrial entities, the initiative prepares them to apply competitively for funding, gain regulatory support, and embark on comprehensive developmental activities that support the transition of industrial clusters.
BUSINESS REPORT